Accounting Standards Board (ASB) of ICAI has provided Format of Financial Statements for NPOs in absence of standard template for financial statements specially for society and trusts. The format is best practice and should be followed by NPOs specially society and trust as standard templates. You may consider introducing these from FY 2024-25 since audit process must be on.
The excel file providing the financial statements template is attached.
CS Sharad Bhargava
Excel File for Illustrative Financial Statements of NPOs.xlsx (1.2 MB)